Altcoin markets had seen decidedly more determined sell-offs. Unsurprisingly, Bitcoin Cash 00 led the rout, losing almost half its value in just 24 hours as the consequences of two rival chains’ infighting suddenly showed.

Ethereum (ETH) 00, formerly the largest altcoin by market cap, also dipped to new lows, sparking fears it could soon lose its place in the top three assets as Stellar limits its losses.

Hastening ‘Capitulation’ To $3K

For John McAfee meanwhile, the latest bloodbath constituted nothing more than another “winter.”

“People have panicked. But there’s no fucking need. We’re in a bear market. They suck, yes, and not like a hooker with no teeth,” he urged.

“But I’m 73 and have seen this dozens of times in many markets. Bear markets are like Winter. It’s always followed by a glorious Spring.”

His optimism mirrored that of BTCC co-founder Bobby Lee, who on Monday called for a “capitulation” of short-term traders in order to produce a definitive BTC/USD low.

At current rates, the pair is around halfway to the ‘bottom’ as predicted multiple times by celebrated trading guru Tone Vays, who has forecast $3000 as a target to hit before markets reversed.